Exploration & Production | Operational Updates | Quarterly / Earnings Reports | Third Quarter (3Q) Update
Continued Efficiency Drives Murphy's Eagle Ford Production Growth
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Murphy Oil provided the following activity update in it's 3Q 2015 Earnings call.
North American Onshore
Eagle Ford Shale -Production in the third quarter of 2015 averaged over 63,000 boepd with 33 new wells brought online. The company achieved higher than projected third quarter Eagle Ford Shale production due to continued efficiency improvements, lower base declines and increased Estimated Ultimate Recoveries (EURs) per well associated with enhanced drilling and completion techniques. The full-year outlook for 2015 is now expected to average over 61,000 boepd, an increase from near 57,000 boepd from 2014 annual production with over a 45 percent capital reduction in 2015.
Montney-Murphy produced 194 million cubic feet per day (MMcfd) of natural gas. Well performance continues to exceed…
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